19 October 2012 - Close

My apologies.  I was extremely busy at work over the past few days and was unable to update the worksheet.  GOOG took quite a tumble.  Admittedly, I had a short position in Google and got out of it on Wednesday because I didn't like the setup on the chart.  It kept moving higher early in the week - and on good volume.  I wasn't confident that it would cover on the short side, so I got out of it.  I even wrote last week that I liked GOOG to move up on good volume.  It was having trouble pushing though $745, but once it moved past it I figured it was too strong of a move to stay in the short position.  Thursday was a brutal drop where I missed out on a rare move down.

I really like how PCLN has hit support and bounced off this morning.  It should move to another resistance level of $585, so keep an eye on volume pushing it higher.  The support line was at $560, if you check out the point & figure chart.

Everything else is movign down with the market at large.  High volume and a downward trend are really battering the market right now.  Be defensive about each position, as a massive sell off could lead to capitulation.